Don’t buy shares in a Facebook IPO from people selling them who don’t own the shares or have access to deliver them, is the lesson several investors learned. Three men were convicted of selling shares in the May, 2012 Facebook Inc (NASDAQ:FB) Initial Public Offering and bilking investors of millions. Fred Todd, Eliyahu Weinstein, and Aaron Glucksman, “offered a pair of investors … the opportunity to purchase large blocks of Facebook Inc (NASDAQ:FB) shares prior to the company’s [IPO] in May, 2012. The offer was particularly attractive because large blocks of the shares were extremely difficult to get and were expected to…
Fraudsters Who Sold Bogus Facebook Inc (FB) IPO Now Face Jail
Mark Melin
Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.